The estimates come as 47 million Americans are slated to lose their food stamp benefits as funding for the program expires. Indeed, the former recipients are likely to become even more dependent on the low-cost retailer.

"I would say we're cautious but modestly optimistic," Bill Simon, Walmart’s U.S. CEO, said at an analyst meeting earlier this month, according to the Huffington Post. "When the [food-stamp] benefits expanded, our market share actually went down."